Sam Brusco, Associate Editor11.02.23
Inari Medical has entered an agreement to acquire LimFlow, a pioneer in limb salvage for patients with chronic limb-threatening ischemia (CLTI).
Inari will pay $250 million in cash at closing, with contingent consideration of up to $165 million subject to achievement of certain commercial and reimbursement milestones. The earliest potential payment would be due in 2025.
LimFlow recently earned U.S. Food and Drug Administration (FDA) approval for its Transcatheter Arterialization of Deep Veins (TADV) system, based on the results of its PROMISE II study. The results, which were published in the New England Journal of Medicine, showed the LimFlow system achieved 70% improvement in amputation-free survival over the current standard of care.
LimFlow said it’s already trained and deployed an initial team of sales reps in select U.S. markets who are executing the LimFlow therapy launch. Inari estimates that about 55,000 patients suffering from CLTI in the U.S. each year have no treatment options other than amputation, and the patients represent a $1.5 billion annual opportunity for LimFlow’s device in the U.S. alone.
“The acquisition of LimFlow is closely aligned with our mission to address significant unmet patient needs and adds another highly differentiated growth platform into our portfolio,” Inari CEO Drew Hykes told the press. “We see the CLTI market as poised for durable growth, driven by compelling technology, outstanding clinical results, and multiple opportunities for expansion. As a minority investor and board observer in LimFlow since early 2022, we have seen firsthand the life-changing impact this technology has on patients, as well as how complementary our two businesses are.”
“I am incredibly proud of the LimFlow team and our clinical investigators who have developed our novel solution that can provide a better life to CLTI patients,” added LimFlow CEO Dan Rose. “By joining with Inari and benefitting from their exceptional resources and capabilities, we expect to be well-positioned to increase access to our technology and advance our shared mission of creating better outcomes for patients.”
Inari will pay $250 million in cash at closing, with contingent consideration of up to $165 million subject to achievement of certain commercial and reimbursement milestones. The earliest potential payment would be due in 2025.
LimFlow recently earned U.S. Food and Drug Administration (FDA) approval for its Transcatheter Arterialization of Deep Veins (TADV) system, based on the results of its PROMISE II study. The results, which were published in the New England Journal of Medicine, showed the LimFlow system achieved 70% improvement in amputation-free survival over the current standard of care.
LimFlow said it’s already trained and deployed an initial team of sales reps in select U.S. markets who are executing the LimFlow therapy launch. Inari estimates that about 55,000 patients suffering from CLTI in the U.S. each year have no treatment options other than amputation, and the patients represent a $1.5 billion annual opportunity for LimFlow’s device in the U.S. alone.
“The acquisition of LimFlow is closely aligned with our mission to address significant unmet patient needs and adds another highly differentiated growth platform into our portfolio,” Inari CEO Drew Hykes told the press. “We see the CLTI market as poised for durable growth, driven by compelling technology, outstanding clinical results, and multiple opportunities for expansion. As a minority investor and board observer in LimFlow since early 2022, we have seen firsthand the life-changing impact this technology has on patients, as well as how complementary our two businesses are.”
“I am incredibly proud of the LimFlow team and our clinical investigators who have developed our novel solution that can provide a better life to CLTI patients,” added LimFlow CEO Dan Rose. “By joining with Inari and benefitting from their exceptional resources and capabilities, we expect to be well-positioned to increase access to our technology and advance our shared mission of creating better outcomes for patients.”